According to data released by TOBB, 26 joint-stock companies operating in the accommodation sector closed down in 2024. During the same period, closures increased in the hotel and food and beverage sectors, while there was a decrease in individual proprietorships.
The data released by the Union of Chambers and Commodity Exchanges of Turkey (TOBB) highlighted the danger in the sector. In the January-April period of 2024, 26 joint-stock companies operating in the accommodation sector closed down. According to a report prepared by Tourism DataBank, this number was recorded as 15 in the same period last year.
Closures in the Accommodation Sector Increased
When considering the closures in the accommodation sector along with the food and beverage sector, there was an overall increase. In the January-April period of 2024, the number of company closures in the hotel and food and beverage sectors rose from 346 to 417, while the number of new establishments increased from 2,510 to 2,611. On the other hand, the number of individual proprietorship closures decreased from 373 to the 300s, and new establishments fell from 248 to 164.